Brisk Summer Sales Seen for Sarasota Real Estate Market


SARASOTA, FLORIDA, June, 27, 2013 – The stage seems set for a vigorous summer selling season in the property market in Sarasota as home sales activity accelerated in the county this April, Sarasota Bay Real Estate reports. The full service realty firm notes that based on figures from the Sarasota Association of Realtors (SAR), pending sales—an indicator of future closed deals—remained above the thousand mark at 1,097 for the fifth consecutive month since the beginning of 2013.

As encouraging, consummated deals hit the four-figure mark in April, a monthly level not seen since June 2005. SAR statistics showed that realtors in the county sold a total of 1,017 residential units this April, consisting of 714 single family homes and 303 condos. The total represents a 14% increase from April last year, during which 589 single detached homes and 297 condo units were sold. The all-time high of homes sold in Sarasota stands at 1,223 achieved in April 2004.

Expectation looms as bright in Manatee

Real estate sales

The number of April pending home sales in Manatee likewise portends a brisk summer for realtors in this county. During the month, there were 307 single family homes and 135 condos in the pending list, up 22.8% and 20.5%, respectively from their April 2012 levels. In April 2013, single family homes sold in the county rose year over year by 23.4% to 301, while a 37% increase to 163 was registered for condos and townhouses.

In order to be on track of these market dynamics, prospective buyers need to engage the services of an experienced local broker, Sarasota Bay Real Estate says, noting the tight inventory of available Manatee and Sarasota homes for sale at present. In Sarasota, the home market inventory has declined close to the lowest level in 10 years, settling at 3,479 units in April, nearly 19% below the year-earlier level.

At this mark, the April 2013 inventory represents 3.2 months of supply for single family homes and 3.9 months for condos. Both are well below the 5-month equilibrium wherein neither seller nor buyer has the pricing advantage. The situation in Sarasota now has tilted toward a seller’s market, the realty firm adds. Manatee is likewise shifting to a seller’s market with 4.2 months inventory for single family homes and 4.9 months of inventory for townhouses and condos.

Choices at Center Gate Estates

For newly listed properties, Sarasota Bay Real Estate recommends searching from among the bedroom communities of Sarasota. Emphasizing that it is best to work with those brokers who can pinpoint desirable properties coming onto the market from these neighborhoods, the realty firm considers Center Gate Estates as an excellent starting point.

There are three attractively priced homes for sale in this community newly listed in the MLS. One option is for a two-bedroom home having a floor area of 1,350 square feet with an asking price in the low $100s. There are two new listings as well priced in the high $100s, featuring three bedrooms within a floor plan measuring close to 2,100 square feet. Manifesting the upbeat market for Sarasota homes for sale, most of the offered properties in this community are already on the pending sales list.